Winslow Capital Management LLC boosted its position in SEASPAN Corp/SH SH (NYSE:SSW) by 113.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,500 shares of the shipping company’s stock after purchasing an additional 40,200 shares during the period. Winslow Capital Management LLC owned about 0.06% of SEASPAN Corp/SH SH worth $629,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in SEASPAN Corp/SH SH by 1,373.5% during the second quarter. Bank of America Corp DE now owns 652,592 shares of the shipping company’s stock worth $6,643,000 after buying an additional 608,303 shares in the last quarter. Wells Fargo & Company MN increased its position in SEASPAN Corp/SH SH by 155.3% during the third quarter. Wells Fargo & Company MN now owns 979,821 shares of the shipping company’s stock worth $8,162,000 after buying an additional 596,062 shares in the last quarter. DDD Partners LLC purchased a new position in SEASPAN Corp/SH SH during the second quarter worth $5,400,000. CIBC World Markets Inc. purchased a new position in SEASPAN Corp/SH SH during the second quarter worth $4,406,000. Finally, Pecaut & CO. purchased a new position in SEASPAN Corp/SH SH during the second quarter worth $3,526,000. 17.24% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Zacks Investment Research raised SEASPAN Corp/SH SH from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday. Seaport Global Securities set a $12.00 price target on SEASPAN Corp/SH SH and gave the stock a “buy” rating in a research report on Tuesday. ValuEngine downgraded SEASPAN Corp/SH SH from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Deutsche Bank downgraded SEASPAN Corp/SH SH from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.00 to $9.00 in a research report on Wednesday, September 19th. Finally, Wells Fargo & Co downgraded SEASPAN Corp/SH SH from a “market perform” rating to an “underperform” rating and set a $6.00 price target for the company. in a research report on Friday, September 28th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $9.78.
SEASPAN Corp/SH SH (NYSE:SSW) last announced its quarterly earnings data on Tuesday, October 30th. The shipping company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.11. The business had revenue of $294.98 million during the quarter, compared to the consensus estimate of $292.96 million. SEASPAN Corp/SH SH had a return on equity of 7.89% and a net margin of 27.00%. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, research analysts anticipate that SEASPAN Corp/SH SH will post 1.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Monday, October 22nd were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date was Friday, October 19th. SEASPAN Corp/SH SH’s dividend payout ratio is currently 75.76%.
About SEASPAN Corp/SH SH
Seaspan Corporation operates as an independent charter owner and manager of containerships in Hong Kong. The company charters its containerships under long-term, fixed-rate time charters to various container liner companies. As of February 15, 2018, it operated a fleet of 91 containerships. The company was founded in 2005 and is based in Hong Kong, Hong Kong.
Featured Article: Outstanding Shares, Buying and Selling Stocks
Receive News & Ratings for SEASPAN Corp/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEASPAN Corp/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.